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Marriott Corporation, 1975 Annual Report
Image 36
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Marriott International, Inc.. Marriott Corporation, 1975 Annual Report - Image 36. 1975. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 8, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1560/show/1555.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc.. (1975). Marriott Corporation, 1975 Annual Report - Image 36. Annual Reports from the Hospitality Industry Archives. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. Retrieved from https://digital.lib.uh.edu/collection/hiltonar/item/1560/show/1555

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc., Marriott Corporation, 1975 Annual Report - Image 36, 1975, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 8, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1560/show/1555.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Marriott Corporation, 1975 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1975
Description Marriott Corporation Annual Report for the 52 weeks ending on July 25, 1975.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott International, Inc.
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
Original Item Location Marriott Hotels Collection
Digital Collection Annual Reports from the Hospitality Industry Archives
Digital Collection URL http://digital.lib.uh.edu/collection/hiltonar
Repository Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston
Repository URL http://www.uh.edu/hilton-college/About/hospitality-industry-archives
Use and Reproduction No Copyright - United States
File Name index.cpd
Item Description
Title Image 36
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_046_036.jpg
Transcript 34 and related property was amortized on a straight-line basis and interest was accrued on the basis of the outstanding lease liability, net income would have been reduced $1,104,000 in 1975 and $905,000 in 1974. On September 5, 1975, the Company sold and leased back the Lincolnshire Hotel with no gain or loss recognized. Net proceeds are $7,282,000 and the purchaser assumed the Company's mortgage of $17,- 000,000. The initial lease is for ten years with renewal options for an additional sixty years. Under certain conditions the lease may be canceled and converted to a management agreement. The mortgage has been excluded from debt in the accompanying financial statements and the future rentals included in the above lease commitments. 7. CAPITAL STOCK: 1,000,000 shares of preferred stock, without par value, are authorized. As of July 25, 1975, no preferred shares have been issued. 45,000,000 shares of common stock, with a par value of $1 per share, are authorized, of which 32,506,837 and 31,183,063 were issued and outstanding at July 25, 1975 and July 26, 1974, respectively. Total common stock shares reserved at July 25,1975: Conversions of convertible subordinated debt 990,967 Employee stock option plan 922,500 Deferred stock compensation programs 711,402 Employee qualified stock purchase plan 297,144 Exercise of warrant, at $23.22 per share 12,922 Total shares reserved 2,934,935 In September 1974, the Company adopted an employee stock option plan under which options to purchase a maximum of 922,500 shares of the Company's common stock may be granted to key employees at not less than 100% of the fair market value on the date of grant. Such options are exercisable over ten years after a one-year waiting period. Options for 612,248 shares were granted in fiscal 1975, adjusted for cancellations, at an average exercise price of $11.29 per share, adjusted for the 1975 stock dividend. All such options were outstanding at July 25, 1975, and none were exercisable. The purchase price for the shares reserved under the employee qualified stock purchase plan is the market value at January 2, 1975 ($6.59 per share, adjusted for the 1975 stock dividend) or 100% of the market value at the purchase date (January 31, 1976), whichever is less. The Company has a number of deferred stock compensation programs. Contracts for 711,402 shares of common stock have been awarded of which 337,111 shares are fully vested at July 25, 1975. Under some programs, shares are issued after the period earned; under other programs, restricted shares are issued prior to the period earned. As of July 25, 1975, the amounts payable in the future in stock and the unamortized compensation for restricted shares already issued are: Stock payable in future $3,767,000 Unamortized compensation (511,000) Net $3,256,000 10 Year Financial History (Dollars in Thousands) OPERATIONS Sales Percent increase for the year Income before income taxes Per sales dollar United States and foreign income taxes Percent to income before income taxes Investment tax credit Net Income Percent increase (decrease) for the year .... Per sales dollar Return on beginning shareholders' investment Funds provided from operations (Note C) .... Capital expenditures I 1 ASSETS EMPLOYED Net working capital Fixed assets Other assets DEBT AND EQUITY Mortgages and notes Construction financing Deferred income taxes Convertible subordinated debt Shareholders' investment 5: 3: PER SHARE DATA (Note A) Net income Stock dividends Percent Cash equivalent Shareholders' investment Quoted market price at year end OTHER DATA (Note A) Weighted average shares outstanding 132,2" Shares outstanding 32,5( t i Number of shareholders Number of employees Number of operating units Hotel rooms Owned and leased Managed (sales not consolidated) NOTES: (A) Per share data is based on weighted average shares I (B) outstanding during the year (except for shareholders' I sale. investment which is based on total shares outstanding), \ $.05 adjusted for stock dividends and for 2-for-l splits in March 1968 and March 1972.